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young people have been big victims with government getting bigger, taxes going up, what do you find in europe? very, very high levels of youth unemployment. hello? same thing's now happening to america's young people. i think the lack of upward mobility is a huge stachallenge, nots just for young people, for lower income people generally and obama thinks the answer is to make government bigger. >> that's, i think, what caused the problem. >> i want to get to that in a moment. david, based upon what we have seen, it seems he is not concerned about the did he hade let's listen to that. >> we should not be stuck in a stale debate from two years ago or three years ago. a relentlyly growing deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit. >> david, rapidly shrinking, the deficit is going down. $17 trilli $17 trillion debt and a deficit higher than the one he received from his predecessor? >> the debt is higher. we would be in much better economic shape and young people would have better job opportunities if we weren't shrinking so fast. we h
young people have been big victims with government getting bigger, taxes going up, what do you find in europe? very, very high levels of youth unemployment. hello? same thing's now happening to america's young people. i think the lack of upward mobility is a huge stachallenge, nots just for young people, for lower income people generally and obama thinks the answer is to make government bigger. >> that's, i think, what caused the problem. >> i want to get to that in a moment. david,...
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and you don't have to pay sales tax. you are saving a lot of money. >> there are other overhead costs that retailers save on that gives consumers costs. >> you don't see any major impacts on online shopping in the future. >> it remains to be seen, whether consumers flock to the bricks and mortar stores because of this issue. >> they say it's a fairness issue, they shouldn't be undermined by the online retailers who don't pay tax issues. tonnes of people, 140 million went shopping. i was not one, fortunately. sales down 2.9% from last year. >> not the outcome retailers hoped for. the holiday creep went into unprecedented territory, stores opening on thanksgiving. macy's for the first time in 155-year history opened on turkey day. it really didn't produce the sales that retailers hoped for. >> you wrote a column "how black fridayate thanksgiving and destroyed"", saying that by moving the sales into thanksgiving, not only did they roou join the holiday, but it didn't seem like sales went up. >> people showed up on thanksgiv
and you don't have to pay sales tax. you are saving a lot of money. >> there are other overhead costs that retailers save on that gives consumers costs. >> you don't see any major impacts on online shopping in the future. >> it remains to be seen, whether consumers flock to the bricks and mortar stores because of this issue. >> they say it's a fairness issue, they shouldn't be undermined by the online retailers who don't pay tax issues. tonnes of people, 140 million went...
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if would control and run its own schools with tax revenue. >> this is not about starting a new city, it's education. >> it's totally about education. we want to take accountability of the schools. >> st george would take more than accountability. a report commissioned warns that the break-up could cost the city $53 million. 20% of its budget. it would further segregate the city. baton rouge is majority black. st george is the mainlyingority white. >> we we have white kids going to school on this end of the parish and at the other end and in the middle just of the black kids. >> members in baton rouge make an average of $58,000, in the st george area they make $90,000. >> i think we need to look at does that take us backwards where we are segregating ourselves. it's not a win. >> it's not a trend. the white and black middle class have pled baton rouge to look for better schools for decades. >> this is nothing to do with skin colour. if you have the means to leave baton rouge and the school system, you have left. >> for those that may not be able to leave, it means more division. >> it
if would control and run its own schools with tax revenue. >> this is not about starting a new city, it's education. >> it's totally about education. we want to take accountability of the schools. >> st george would take more than accountability. a report commissioned warns that the break-up could cost the city $53 million. 20% of its budget. it would further segregate the city. baton rouge is majority black. st george is the mainlyingority white. >> we we have white...
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. >> the federal government collects taxes. kordova is run by the opposition who accuses president cristina fernangez de kirchner. the provincial government, arrival of arge tine president had complained that her government denied his appeal. he accused cristina fernangez de kirchner of shortchanging the province of resources. her administration said they accepted full responsibility. >> translation: there exists autonomy in the arge tine provinces and public security is one of these. it has to do with salaries. >> the governor claimed the police walked off their jobs in retailiation for the decision to shut down nor than 100 brothels, which had been paying off corrupt offices. they had been returning to work after being offered salaries and bonuses, making them the best paid in the country. >> translation: the police force returns to the service of the people of ko rrk dova. >> the governor vowed to travel to the capital to demand the government stop playing politics with their money. >> coke roaches may make you cringe, but t
. >> the federal government collects taxes. kordova is run by the opposition who accuses president cristina fernangez de kirchner. the provincial government, arrival of arge tine president had complained that her government denied his appeal. he accused cristina fernangez de kirchner of shortchanging the province of resources. her administration said they accepted full responsibility. >> translation: there exists autonomy in the arge tine provinces and public security is one of...
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it would control its own schools with its own tax revenue. >> this is not trying to start a new city, it's about education? >> 100% because of education. we didn't come in saying we wanted to create the fifth largest city in the state of louisiana we want to take charge of the schools in our area. >> a report commissioned by the baton rouge area said it could cost the city at large $53 million, 20% of its budget and further segregate the city. >> now we would have white kids going to school over here on this end of the parish, white kids going to school on the other end of the parish and in the middle you would just have the black kids going to school. >> there's also a major income disparity. residents in the city make an average much $58,000 a year. while residents in the st. george area make $90,000. >> does that take us backwards where we're segregating ourselves again? i don't see it as a win. >> both the white and black in baton rouge, those looking to break away say it's not race, but education. >> this has nothing to do with skin color. if you have the means to leave bbaton ro
it would control its own schools with its own tax revenue. >> this is not trying to start a new city, it's about education? >> 100% because of education. we didn't come in saying we wanted to create the fifth largest city in the state of louisiana we want to take charge of the schools in our area. >> a report commissioned by the baton rouge area said it could cost the city at large $53 million, 20% of its budget and further segregate the city. >> now we would have white...
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issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to yourself? and you'll get... the inside story ray suarez hosts inside story weekdays at 5 eastern only on al jazeera america >> and welcome back. tonight we're looking in depth at health care in privately run prisons in america and in the second part of his investigation, america tonight's adam may, said that in an effort to save money, privatized care has sentenced some prisoners to death. >> it's a growing trend, states looking to trim budgets. to date, at least 28 states have privatized prison care. american friend services, in arizona, since the time the state privatized the prison health care , cost dropped $30 million. 50 people died
issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to...
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and there were additional taxes levied on aid agencies. they ranged from individual projects. at the same time al-shabaab was able to apply a robust monitoring and supervising of aid agencies where they recruited recipients of aid to report on humanitarian workers. in the end one could argue that these activity versus saved lives on the part of humanitarian workers, but at the same time it became a source of revenue for al-shabaab. >> so what are you recommending from this report, from your research. >> reporter: well, one of the challenges that aid agencies face are the laws and counter terrorism regimes that exist in the west. if they're exposed they could be prosecuted for this. one of the recommendations in the report there needs to be a conversation about the intent of these laws. the intent of these laws was not to starve people to death. obviously it was to make sure money does not make its way through terrorist organizations. that's a legitimate goal to have. but if the outcome of that is the net result of that becomes starving people to death, and then we have a probl
and there were additional taxes levied on aid agencies. they ranged from individual projects. at the same time al-shabaab was able to apply a robust monitoring and supervising of aid agencies where they recruited recipients of aid to report on humanitarian workers. in the end one could argue that these activity versus saved lives on the part of humanitarian workers, but at the same time it became a source of revenue for al-shabaab. >> so what are you recommending from this report, from...
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most would say legalize marijuana, tax and regulate it. stop criminalizing people for drug possession. make a commitment to treating it. for those determined to get their drugs. they'll get it from the black market. look at what the europeans have done, allowing heroin addicts getting heroin from clinics. that's not legalisation, it's a policy advancing public safety. >> if prohibition and punishment as the main punishments is breaking up, why is that happening now? >> there are many reasons. now we are seeing the public health outcomes of the failed policies, that's mostly in europe. we are seeing in latin america the violence that is increasing significantly over the last number of years. so i think on those continents there's increased unrest and disappointment with the counter policies as they stand. those are being articulated more clearly. there's a number of countries, switzerland and others, that have implemented sensible drug policies, and we have much to others. >> hasn't the international experience been buried in some places. i
most would say legalize marijuana, tax and regulate it. stop criminalizing people for drug possession. make a commitment to treating it. for those determined to get their drugs. they'll get it from the black market. look at what the europeans have done, allowing heroin addicts getting heroin from clinics. that's not legalisation, it's a policy advancing public safety. >> if prohibition and punishment as the main punishments is breaking up, why is that happening now? >> there are...
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issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to yourself? and you'll get... the inside story ray suarez hosts inside story weekdays at 5 eastern only on al jazeera america >> michael eaves is here with sports. kind of a shake up in coaching ranks in one nba team. >> not one you would expect at this point in the season. >> the expectations were high because as a player kid was considered to have the highest basketballisbasketball iq in the nets made a change to the coaching staff today. >> it's lawrence frank who has been reassigned to a role where he will no longer attend practices or games there was reports that there was growing tension between frank and kidd. they called the move a
issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to...
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and eats putar technology enterprise zone, where tax rates are low and creativity is high. >> they left sill can valley for this city famous for its steel. >> . >> there's reasons to stay. >> it is the pittsburgh miracle. it became year in the 80's, market portions working to replace the steel industry, through regulation and a partnership between government, industry, and universities the city clawed back. >> i cannot recall pittsburgh saying they want to be like somebody else. >> the history is always busiest loyal to their hometown, helped them become a leadner healthcare. >> to celebrate it, they are going to indicate the success, so much as a last of failure, pittsburgh rates 50 second out of the u.s.' 100 largest cities. based on job growth, unemployment, y.d.p. and home prices. >> such a huge disparities of wealth, that plague modern america. the try reveals failure. emotional leaders he says only a national plan to get jobs and equitable growth will do. >> 2500 homeless children in this area. you have an infant mortality right among the african-american population at 21 per 1,00
and eats putar technology enterprise zone, where tax rates are low and creativity is high. >> they left sill can valley for this city famous for its steel. >> . >> there's reasons to stay. >> it is the pittsburgh miracle. it became year in the 80's, market portions working to replace the steel industry, through regulation and a partnership between government, industry, and universities the city clawed back. >> i cannot recall pittsburgh saying they want to be like...
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and governments should dramatically increase the tax on tobacco. >> i think the first step is agree on the goal, making the commitment, having that commitment be widely shared, generating the political commitment above all within countries to commitment the necessary resources to the necessary health interventions. >> nevertheless do you think in the current economic environment, when you talk about $60 billion being injected into health care systems a year to reach these goals, a lot of people are going to be thinking how are cash-strapped countries going to find that money? >> what we show is that the total gain in gdp, the extra gdp, not the gdp they have now, the extra gdp they have per year represents a figure of close to $10 trillion per year. and what we're talking about is the allocation of not half of it, not a tenth of it. but well under 1% of it. two this global conversion agenda that saves 10 million lives. >>> to ask you about the risk of overburn denning health systems, of course it would be an incredible achievement, but i'm just wondering about the knock-on effect of th
and governments should dramatically increase the tax on tobacco. >> i think the first step is agree on the goal, making the commitment, having that commitment be widely shared, generating the political commitment above all within countries to commitment the necessary resources to the necessary health interventions. >> nevertheless do you think in the current economic environment, when you talk about $60 billion being injected into health care systems a year to reach these goals, a...
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>>> taxing online sales. the supreme court has its say. >>> federal investigators are now looking at the black boxes of a train that derailed in new york city on sunday. they want to know what caused
>>> taxing online sales. the supreme court has its say. >>> federal investigators are now looking at the black boxes of a train that derailed in new york city on sunday. they want to know what caused
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with other ways to reduce costs including abandoning retiree health care and passing a higher sales tax. >> we have made drastic reductions in our workforce which again reduces the liability we would have for the pensions going forward. we have also made drastic reductions in the actual pay that our employees receive. >> the detroit decision paves the way for at least one creditor and a coalition of lenders. >> we lost our medicals, we've taken a hit. it's not like let's say all the creditors taken a hit but the employees didn't, we did, we took a big hit. >> it's become a complicated matter one for alfred and those like him across the country who face a less secure and cozy future. melissa chan, al jazeera, stockton, california. >>> nearly five years ago, to save the struggling auto maker but that cost the american taxpayers. the taxpayers paid $50 billion to recoup gm but recovered only about 39 billion. that was less than it would have cost the country, says the government, to let gm go under. >>> the new violence for brazil and the safety fears for the game. >>> plus fizzled out, th
with other ways to reduce costs including abandoning retiree health care and passing a higher sales tax. >> we have made drastic reductions in our workforce which again reduces the liability we would have for the pensions going forward. we have also made drastic reductions in the actual pay that our employees receive. >> the detroit decision paves the way for at least one creditor and a coalition of lenders. >> we lost our medicals, we've taken a hit. it's not like let's say...
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in argentine the government collects taxes and distributes to the opposition. it is collected by of the opposition, cristina fernandez de kirchner is accused of tolding the funds back. >> the arrival of argentine president cristina fernandez de kirchner had complained that her government denied appeals for reinforcements. and accused cristina fernandez de kirchner of shortchanging provinces. >> translation: there exists autonomy. public security is one of these. the matter has to do with salaries. >> the governor claimed the police walked off the jobs in retaliation for his decision to shut down more than 100 brothels paying off corrupt officers. the police began returning to work after they were offered salary increases and bonuses making then the best paid in the country. >> i want to tell the people that from this moment the police force returns to the service of the people of kordova. >> the governor vowed to travel to the capital to depend they stop playing politics with his money. >> the provincial grandfather ner blamed the violence. and prime minister s
in argentine the government collects taxes and distributes to the opposition. it is collected by of the opposition, cristina fernandez de kirchner is accused of tolding the funds back. >> the arrival of argentine president cristina fernandez de kirchner had complained that her government denied appeals for reinforcements. and accused cristina fernandez de kirchner of shortchanging provinces. >> translation: there exists autonomy. public security is one of these. the matter has to do...
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that's the amount of tax dollars spent supplementing the wages of bank bank tellers. a third of bank-tellers had to rely on assistance. >> last year tellers had a median salary of $24,100. that's about $11.39 an hour. >> welcome back to al jazeera america. >>> the obama administration is looking to undo the damage to the affordable care act's image done by the problems, of course, with the problem plagued website. in a moment we'll look at what the president needs to do during his campaign to accomplish that. >> first let's look at the temperatures across the nation. metrologist nicole mitchell is here. >> we have a contrast once we get to the southern plains today - going to the 20s or 30s. houston is at 71. this is where it's really gotten brutal. single-digit temperatures. adding in the wind. feels like 30 below. this is going to be a spreading sign over the weekend. the wind chills that are really brutal out there. the cold air will settle and over the next couple of days the warmer spots in the south - innocently it while you have it. although not the negatives.
that's the amount of tax dollars spent supplementing the wages of bank bank tellers. a third of bank-tellers had to rely on assistance. >> last year tellers had a median salary of $24,100. that's about $11.39 an hour. >> welcome back to al jazeera america. >>> the obama administration is looking to undo the damage to the affordable care act's image done by the problems, of course, with the problem plagued website. in a moment we'll look at what the president needs to do...
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regulators hunting american tax evaders. of ing us more is ben jones team that specializes in international corporate tax issues. great to have you on the program. a k to us about how this is turning point. it started a couple of years ago when we realized that swiss were to the point where people could put their money is a turning e point today. >> today and in the coming weeks months is a real turning point because over the last been a f years there's growing pressure from the u.s. information about u.s. account holders and enerally for countries such as switzerland but specifically they have been talking to witzerland to engage more proactively with the international information that are growing in force in the tax world. the is is not only about u.s. but u.s. today because the is saying you should sign up or you risk big fines on you. a collective conscience of asking more and to reveal bank accounts. >> this is a global issue. very stronglyiven by the u.s. because they have clout to ic power and do so. but you will see
regulators hunting american tax evaders. of ing us more is ben jones team that specializes in international corporate tax issues. great to have you on the program. a k to us about how this is turning point. it started a couple of years ago when we realized that swiss were to the point where people could put their money is a turning e point today. >> today and in the coming weeks months is a real turning point because over the last been a f years there's growing pressure from the u.s....
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nokia said to be nearing a deal with india tax authorities. they are said to be willing to pay 300 million euros if they're willing to shift to microsoft. formula one teams will start to byrate under -- control 2015. the new rules will be approved by the end of june next year. low -- welcome "countdown." >> i feel pretty comfortable about the long-term outlook. the longer-term outlook is going to turn on these bigger questions, the business investment, what happens to productivity, what happens to be so-called supply-side of the economy. >> you can test that interview later today when "charlie rose" airs on bloomberg television. let's welcome the chief executive at hermes fund. >> how will investors cope with normalization? >> with difficulty. it is not clear that normalization will happen quickly. >> what governor carney is saying is that this applies to the fed as well. what -- interest rates will be lower than normal for longer than normal. their afraid to do it now because the recovery is not solid in their view. it is this question of how
nokia said to be nearing a deal with india tax authorities. they are said to be willing to pay 300 million euros if they're willing to shift to microsoft. formula one teams will start to byrate under -- control 2015. the new rules will be approved by the end of june next year. low -- welcome "countdown." >> i feel pretty comfortable about the long-term outlook. the longer-term outlook is going to turn on these bigger questions, the business investment, what happens to...
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some lawmakers call it a tax. aftere trying to go federal, woulders, make them contribute more to their retirement plans. withdoesn't sit well democrats. democrats also hoping to extend emergency unemployment benefits. more time they want that part of the mix. republicans don't like that idea. they think the emergency benefits should be canceled at this it point. john boehner hasn't closed the door completely on the issue, but it's one of the stumbling blocks. and after the report, deirdre, sell.ld be a tougher >> what if there's no deal? what's plan b? both sides are saying we want to avoid anything we can to not have a government shutdown. john boehner has said that there would be at a minimum, by the lawmakers leave for the holidays on friday, at least a temporary spending measure that would kick this can down maybe march. nobody likes that idea, but it is better than the alternative. again, that's a shipdown -- shutdown threat hanging over the the newperiod into year. that's plan b at a minimum, but even that
some lawmakers call it a tax. aftere trying to go federal, woulders, make them contribute more to their retirement plans. withdoesn't sit well democrats. democrats also hoping to extend emergency unemployment benefits. more time they want that part of the mix. republicans don't like that idea. they think the emergency benefits should be canceled at this it point. john boehner hasn't closed the door completely on the issue, but it's one of the stumbling blocks. and after the report, deirdre,...
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they lay on the sales tax. that squelches consumption. what they need to do is become with theironsistent taxation policy and realtor reform instructional reforms in general. >> they are almost passing the buck on to japanese consumers. >> that has always been the issue. we hope that the consumer sort it out. i think they are on the right track. if the consumer is behind the policy is behind the government, you really want to get japan right. you do have some political will and national sense of purpose. it is a question of whether they will stop making the wrong decision. >> we have talked about japan, but there's a lot more to talk about come including china, thailand, and all the rest. stick around. we will talk about that. the, investors welcoming latest election results from india. we are live in mumbai when we returned. ♪ >> we are coming to the start of the trading day in india. we are 23 minutes away from that. results in india state elections. but get more from our correspondent. what do we know so far i guess? they are clearly
they lay on the sales tax. that squelches consumption. what they need to do is become with theironsistent taxation policy and realtor reform instructional reforms in general. >> they are almost passing the buck on to japanese consumers. >> that has always been the issue. we hope that the consumer sort it out. i think they are on the right track. if the consumer is behind the policy is behind the government, you really want to get japan right. you do have some political will and...
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clamping down on tax evasion. toss banks are being asked voluntary have a disclosure program with the u.s. department of justice. manus cranny is here. will be the end of swiss banks? >> we have a turning point. from told thousand seven, the u.s. -- from 2007, the u.s. has pursued tax evaders by whistleblowers. we are entering a new spectrum with the u.s. justice department going after them. protecting you are and who you are trying to protect from taxing. with tax a little bit more leniently with you. you have anonymity. the germans are saying, no. the u.s. is going after identity, identity. that is the critical part for the u.s. authorities. invadedlion was being off taxation by u.s. citizens. this is the point. since the whistleblowers' admissions started, citizens are in swiss.have money they declared. you see the amount of money by 70%. 68 tax evaders have been charged. banks have been fined. >> what could be the penalties? >> 16 banks under investigation at the moment. no plea bargaining for them. could face
clamping down on tax evasion. toss banks are being asked voluntary have a disclosure program with the u.s. department of justice. manus cranny is here. will be the end of swiss banks? >> we have a turning point. from told thousand seven, the u.s. -- from 2007, the u.s. has pursued tax evaders by whistleblowers. we are entering a new spectrum with the u.s. justice department going after them. protecting you are and who you are trying to protect from taxing. with tax a little bit more...
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they are a perverse tax. we are out of line with small and medium with other -- we are out of line with other countries for small and medium enterprises. austerity is not done. austerity to be affected between now and 2016. osborne is unlikely to give a great deal away. he wants to stay the course of prudence. >> he certainly does. there have been leaks about the statement. what is left for the chancellor to surprise us with? >> housing is top of the agenda. least of all for the bank of england, -- not least of all for the bank of england, monetary policy. he might have something about the foreign ownership, a banner issue in london. you being tax on the sale of your ownership if you're a foreign owner. something to do with -- this is the politics of politics. going up against the opposition chancellor saying plan a worked. didn't really work or have things gotten better? they have, thankfully. there will be politics in the houses of parliament, the house of westminster behind me. for married couples. there c
they are a perverse tax. we are out of line with small and medium with other -- we are out of line with other countries for small and medium enterprises. austerity is not done. austerity to be affected between now and 2016. osborne is unlikely to give a great deal away. he wants to stay the course of prudence. >> he certainly does. there have been leaks about the statement. what is left for the chancellor to surprise us with? >> housing is top of the agenda. least of all for the...
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is a consumption tax. it has been given. >> very big right now in terms of what these reforms are going to be. >> that is the question. you can see abenomics continue in rallying the troops. not everybody thinks the momentum is continuing. >> they used to advise. george soros and here he is. may be the fiscal conditions become sound. our life will be terrible. there is no exit. that is borrowing words again. he wants to end deflation. it is extreme. we were told deflation. >> how viable is that? anit is going to have to see extension. if you talk about the wages, it is probably the most important component they need to get on board. it is going to be really hard convincing the rest of the corporations that they should consider the projections. there's a economics theory of what inflation will produce. deflation is ending. biggest rise in winter bonuses. that is a big boost. these will start flowing to japanese consumers who absolutely are dependent. >> they're trying to wire this before the tax comes in. >
is a consumption tax. it has been given. >> very big right now in terms of what these reforms are going to be. >> that is the question. you can see abenomics continue in rallying the troops. not everybody thinks the momentum is continuing. >> they used to advise. george soros and here he is. may be the fiscal conditions become sound. our life will be terrible. there is no exit. that is borrowing words again. he wants to end deflation. it is extreme. we were told deflation....
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is clamping down on offshore tax evasion. asked buts are being on regulars to participate in a program with american authorities. manus cranny's here at the latest on the story. is this the end of swiss banking secrecy as we know it? >> definitely a turning point. the french and the u.k. all depended on the whistleblower case. with the u.s. goes up in legal battering ram you can be pretty sure the rest will follow. wars on the cards as a department of justice saying listen, you can have a waiver, you can have an exemption, you have to sign up. the regulator and switzerland is saying get on board, get over yourselves. there are 300 banks enough to make the decision with the to join in on a voluntary program with the disclose information or indeed run the risk of quite significant fines and prosecution. >> that is a concern. if you don't sign up now voluntarily, further down the line they could have huge fines. be excluded from doing business in the usa. that is a critical part of the story. >> thank you, manus cranny. brazil's
is clamping down on offshore tax evasion. asked buts are being on regulars to participate in a program with american authorities. manus cranny's here at the latest on the story. is this the end of swiss banking secrecy as we know it? >> definitely a turning point. the french and the u.k. all depended on the whistleblower case. with the u.s. goes up in legal battering ram you can be pretty sure the rest will follow. wars on the cards as a department of justice saying listen, you can have a...
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will a tax on junk food and soda be a solution? it is not just for drinking and we will talk to a man who claims to have the best whiskey collection in the u.s.. why the drink could make a better investment than stocks. stay "in the loop." we're just getting started on this thursday. >> "in the loop" with betty liu will be right back. ♪ >> well, ford is unveiling the new mustang today at an event that some might call the latest evidence of a renaissance among detroit's automakers. a beautiful card. , and manufacturing in the u.s., but our next guest disagrees. he writes in his latest bloomberg view column economist gary shilling joining us. always rate to see you. see you.to so, why are you so down? >> well, i am not down. taking up in is this country and there is this reassuring, if you will, coming back, but it is robotic- intensive. mean, robotic intensive -- workers are not being hired? >> that is right. the output per employee in manufacturing it is right back on trent, growing 3.5% a year. as a result, with the revival of m
will a tax on junk food and soda be a solution? it is not just for drinking and we will talk to a man who claims to have the best whiskey collection in the u.s.. why the drink could make a better investment than stocks. stay "in the loop." we're just getting started on this thursday. >> "in the loop" with betty liu will be right back. ♪ >> well, ford is unveiling the new mustang today at an event that some might call the latest evidence of a renaissance among...
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>> a medical device tax has had a big impact. medical device tax is going to cost us tens of millions of dollars. how much is going to hurt sales. it will hurt bottom line for sure. that has an impact. we have to find other ways to make up for that difference. overall, the medical business is flat. there's a lot of uncertainty about where the affordable care act is going. there is a lot of consolidation going on in the industry. we do not see companies buying the way they were. we do not see the expansion that we saw a couple of years ago. >> you seem passionate. this is something that i think cory can see as well. you say there is a skill gap in the united states. you are having a hard time finding people with the right skills to fill those jobs. you lacking people who are well- trained in science, mathematics, technology. is this right? >> absolutely. we have built new manufacturing plants where we had to spend significant time training people to get up to speed to still his plans, we had to put in place programs so that we can
>> a medical device tax has had a big impact. medical device tax is going to cost us tens of millions of dollars. how much is going to hurt sales. it will hurt bottom line for sure. that has an impact. we have to find other ways to make up for that difference. overall, the medical business is flat. there's a lot of uncertainty about where the affordable care act is going. there is a lot of consolidation going on in the industry. we do not see companies buying the way they were. we do not...
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it does nothing for long-term entitlements, nothing for tax loopholes. it only partially replaces the sequester, which most people think is mindless. pure andent for it is simple. for the republicans, they avoid another government shutdown in mid-january. the last one was a disaster for them. ofocrats get to replace some those questioned cuts they find especially onerous. >> it was a disaster for republicans but it was a disaster for the reputation. what about the american people and for trillion dollars in debt? term thatface a short problem. ist they ought to do now figure out a way to address that long-term deficit because it is rather painless in the immediate future. politicians, the future there will be nothing of significance that comes out of this deal. >> let's say they get a deal but lawmakers still push back. what does that say about what is happening in the sea -- in d.c.? >> if i was a good speller i would say it is his function. i don't spell very well. now the democrats -- and they need democratic votes to get this through the house -- the
it does nothing for long-term entitlements, nothing for tax loopholes. it only partially replaces the sequester, which most people think is mindless. pure andent for it is simple. for the republicans, they avoid another government shutdown in mid-january. the last one was a disaster for them. ofocrats get to replace some those questioned cuts they find especially onerous. >> it was a disaster for republicans but it was a disaster for the reputation. what about the american people and for...
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. ♪ ♪ >> all right, smoke it, sell it, tax it. why not, right? it might be the new slogan for uruguay as they vote for legislation to legalize marijuana on the national level. this is a huge step, they would be the first country to allow this. we have more on this potentially historic decision. this legislation comes straight from the president himself. why is he pushing so hard for this? >> the first seemed to be the asset invite -- advisers, what was the smartest way to deal with it in the country? they said the smartest way to do it would be to legally regulate and tax it, and he said just knew it, and the president i think understands this is an issue of rate significance to young people in the country and i think that youthful perspective is very important and you think about the future of uruguay. >> he has certainly made some very bold moves. he legalize gay marriage, now this. as i look at the proposed legislation it reminds me of what we have seen around the country in various places like mendocino county. registered users will be able t
. ♪ ♪ >> all right, smoke it, sell it, tax it. why not, right? it might be the new slogan for uruguay as they vote for legislation to legalize marijuana on the national level. this is a huge step, they would be the first country to allow this. we have more on this potentially historic decision. this legislation comes straight from the president himself. why is he pushing so hard for this? >> the first seemed to be the asset invite -- advisers, what was the smartest way to deal...
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tax -- >> never. kate spade has been a sales juggernaut. more than 20% for the past 12 straight quarters. ofarly, the strategy whittling down their brands is worth it for them. >> these guys focus on what they do best. get rid of the things that are fickle, more trendy, and stay back with the tried and true. >> are you saying that judicature is fickle and trendy? >> i am saying that. they make a lot of addresses that i wear on this show. i like juicy a lot. not going away. is campaign to persuade actually working. those nelson, heart -- are names you might not have heard in a while. >> i had to ask julie who they were. >> get out of here. >> geez louise. barracuda, magic manned -- magic man? it is a fantastic band. >> all of these bands are pulling out of the seaworld due to positions of animal-rights groups. >> i cannot believe seaworld is still open. >> why? >> who would go there after watching -- >> it is a very good company. it is going to change. i do think it will make companies like this look at their model. by the way, this kind of
tax -- >> never. kate spade has been a sales juggernaut. more than 20% for the past 12 straight quarters. ofarly, the strategy whittling down their brands is worth it for them. >> these guys focus on what they do best. get rid of the things that are fickle, more trendy, and stay back with the tried and true. >> are you saying that judicature is fickle and trendy? >> i am saying that. they make a lot of addresses that i wear on this show. i like juicy a lot. not going...
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be replaced by revenue in other areas, but they are avoiding the big questions, no major changes to taxes or entitlement programs. murray and staffers continue to make progress over the weekend but the deal taking shape already has some critics, like powerful maryland and virginia lawmakers proposing that they receive more money for their pension plans. conservative republicans do not like the idea of putting the current spending cap there. democrats want more on emergency spending benefits with unemployment at seven percent, which is a tough sell right now to republicans. a lot of things out there for people not to like in this deal, so it is no slam dunk even if the deal is sealed by friday. >> peter, thank you very much. budgets in washington, d.c. to back in new york and fending off activist investors, at least one in this case. bill ackman, that is one of the names you need to know. herbalife has added an independent orton member with an illustrious career focused on poverty and is approaching investors suggesting they pull money out of the $12 billion firm. it looks like a completel
be replaced by revenue in other areas, but they are avoiding the big questions, no major changes to taxes or entitlement programs. murray and staffers continue to make progress over the weekend but the deal taking shape already has some critics, like powerful maryland and virginia lawmakers proposing that they receive more money for their pension plans. conservative republicans do not like the idea of putting the current spending cap there. democrats want more on emergency spending benefits...
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they were frozen this year in a tax dispute. siemens is said to be considering a deal of its medical unit. it is not considered to be a core business. the chief executive is evaluating the portfolio of the largest engineering. novartis is considering swapping animal health unit of one with assets rather than selling. face change is one of several options exploring. of you several options that are exploring. the allergy medicine is said to be attractive. announced record profits earlier this morning. manus is here to break down the numbers. what drove the numbers? >> the right product and squeezing margins higher. your speciality products. unique. they said we interact and won't more. that fills the margins. that is doing better. also doing quite nicely and the u.k. and nordics. it is where they are beginning to build the margin. if your shareholder, you get a nice up left on the dividend. ift on the dividend. they are carrying more people in the u.k. and nordics. .hey are building the margin they had a pretty good set of numbers
they were frozen this year in a tax dispute. siemens is said to be considering a deal of its medical unit. it is not considered to be a core business. the chief executive is evaluating the portfolio of the largest engineering. novartis is considering swapping animal health unit of one with assets rather than selling. face change is one of several options exploring. of you several options that are exploring. the allergy medicine is said to be attractive. announced record profits earlier this...
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. >> what about taxes? don't other aspects of tax reform like closing loopholes and changing the deductibility -- aren't they much more important for your business? >> that would be a material negative to our business. >> are you afraid of tax reform? >> no. the market will adjust. our business will go on. it is happen in places like germany and denmark. happened in places like germany and denmark. it will not be catastrophic for our business. would it be good? no, it would not be good, but i do not see it happening. it is an underpinning of the economy. achievea good way to that. >> let's talk about what you are doing in europe. you move from london to the u.s. 18 months ago. is that giving us a signal that the opportunities are here. no, i was 11 years in london and i wanted to raise my kids as americans. there are great opportunities in europe, but the u.s. is relatively more attractive because in your up you will have more volatility and lower growth. return -- youter ought to earn a better return in eu
. >> what about taxes? don't other aspects of tax reform like closing loopholes and changing the deductibility -- aren't they much more important for your business? >> that would be a material negative to our business. >> are you afraid of tax reform? >> no. the market will adjust. our business will go on. it is happen in places like germany and denmark. happened in places like germany and denmark. it will not be catastrophic for our business. would it be good? no, it...
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taxes on my jean, rental cars. the question is whether the public will eventually repay the money. >> what is the new now? ?> as far as facilities >> or the pushback. >> acting strong pushback. -- i think strong pushback. dan francisco has a new facility, the public is involved and it seems to be working well there. a lot depends on whether you can get mixed use development around the facility. alternately bringing new money into the county or municipality. that alone will depend on whether or not it was successful. >> i believe there is a football game in january and february in three feet of snow in new jersey? >> i'm not to mention the ice hockey game in new jersey as well. the facility -- paid for by taxpayers >> the owners were on the hook. but they sold licensing to the public. in some ways the public is paying for the stadium because they have to buy the right to buy the tickets. >> we talked about how fenway park is 100 years old. the vikings are getting a new stadium. the marlins are getting a new stadium.
taxes on my jean, rental cars. the question is whether the public will eventually repay the money. >> what is the new now? ?> as far as facilities >> or the pushback. >> acting strong pushback. -- i think strong pushback. dan francisco has a new facility, the public is involved and it seems to be working well there. a lot depends on whether you can get mixed use development around the facility. alternately bringing new money into the county or municipality. that alone will...
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should they be regulated and taxed like a regular taxi commission? number was from leaked documents so it is not confirmed, but it is also a top line revenue number. you have to figure out what their cut is and how it slows down. the $20 million a week is hard to gauge. but the company is clearly making a lot of money and has done extraordinary things. ou and view this as peer to peer sharing, but i also view it ke lifestyle.i a whole generation of people are leaving college and coming into the job market and they are viewing their world and they are saying, hey, i don't actually need to own the assets my parents owned. i don't necessarily need to own an apartment. i can rent. i know people are moving from place to lace. -- place to place. same thing with uber. and same thing with bitcoin. the economy is being restructured and at this point it is hard to discern exactly what the role of government should be. government risk of overreaching -- look, i was on the stand against iker soft in the antitrust case and it is one of the things in my career tha
should they be regulated and taxed like a regular taxi commission? number was from leaked documents so it is not confirmed, but it is also a top line revenue number. you have to figure out what their cut is and how it slows down. the $20 million a week is hard to gauge. but the company is clearly making a lot of money and has done extraordinary things. ou and view this as peer to peer sharing, but i also view it ke lifestyle.i a whole generation of people are leaving college and coming into the...
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generally speaking, i think bitcoin has a role to play in countries where citizens face high taxes, high capital controls or confiscation risk. from that point of view that is interesting. >> you have mentioned china. they have come down pretty hard on bitcoin. >> i think so. 70% of the recent turnover in bitcoin exchange basically involved a cnyb on the other side. this has become an object of speculation in china just like other things, even garlic in china. >> people have made comparisons to tulips. there was a professor in the netherlands who made this comparison just this week. you would say no, don't worry about that it, is not a tulip? >> i think right now add today's level, a,000, you can't say clearly it is a bubble. this is where i would disagree with green span. this piece makes that point dwight well. >> david woo disagreeing with allen greenspan. we will be back in two. >> welcome back to "street smart." we had our fifth down day in the market today. trish, you look at where the market closed, the s&p 500 down a half percent. that means we are now down 1.5% over the past fiv
generally speaking, i think bitcoin has a role to play in countries where citizens face high taxes, high capital controls or confiscation risk. from that point of view that is interesting. >> you have mentioned china. they have come down pretty hard on bitcoin. >> i think so. 70% of the recent turnover in bitcoin exchange basically involved a cnyb on the other side. this has become an object of speculation in china just like other things, even garlic in china. >> people have...
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you make something illegal, you push it underground, you get tax revenue and you stop spending money trying to protect citizens from smoking weed if you make it legal. entertain me for a moment. -- wouldk you would be have to be high to read the whole thing. they went to try to finalize the volcker rule today. >> good segue. >> thank you so much. >> i want to leave you with live pictures that are coming to us from just outside johannesburg from the football stadium in soweto. and south africa pays tribute to nelson mandela. he passed away last week at age 95. ♪ >> this is "bloomberg surveillance." this seventh year of financial crisis, washington says wall street muslims by the vocal role. the customer comes first year it -- comes first. presidents travel to johannesburg to pay respect to the memory of nelson mandela. late,r fedex package is you deserve a refund? this is "bloomberg surveillance ." i'm tom keene. joining me is scarlet fu and alix steel. let's get right to the morning breeze as the ceremonies continue in south africa. >> in china, industrial output rose less than est
you make something illegal, you push it underground, you get tax revenue and you stop spending money trying to protect citizens from smoking weed if you make it legal. entertain me for a moment. -- wouldk you would be have to be high to read the whole thing. they went to try to finalize the volcker rule today. >> good segue. >> thank you so much. >> i want to leave you with live pictures that are coming to us from just outside johannesburg from the football stadium in soweto....
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but no mage deer sigses here on taxes or entitlement programs. they're kicking the can down the road. dick doiben the number two senate democrat said negotiations are going in the right direction. >> negotiations are making progress moving in the right direction. they haven't closed the deal. >> they haven't closed the deal. what's needed to close the deal? >> there's some issues out there, sticking points. if they replace the sequester cuts there's going to be criticisms for the idea they put in place. one is asking more federal employees to contribute more to their pension programs. this is adamantly opposed by a ot of federal workers. that's one issue. there are also questions about whether you extend unemployment benefits, emergency unemployment benefits. nancy pelosi would like to see part of the package. but that still is a question mark. it's going to cost about $25 billion. then the bigger question is at the end of the day can whatever ryan and murray put together, can it pass the respective chambers? there's still going to be some drama
but no mage deer sigses here on taxes or entitlement programs. they're kicking the can down the road. dick doiben the number two senate democrat said negotiations are going in the right direction. >> negotiations are making progress moving in the right direction. they haven't closed the deal. >> they haven't closed the deal. what's needed to close the deal? >> there's some issues out there, sticking points. if they replace the sequester cuts there's going to be criticisms for...
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>> i do buy it on amazon and i do pay taxes. in the state of new jersey, you have to say here is what i bought and i go and i print out everything i bought on amazon and i do pay sales tax on it. >> that's why i don't buy anything. >> it's complicated. but what i will say is has not said they are interested in ever collecting it. their problem is trying to figure it out. their point is they would hike a federal system set up that says you either pay one state sales tax or you buy one, you know, federal fee that then is splitted pup i can understand that argument. >> and, again, obama care developers, are they available to develop this for us for the federal -- >> i don't know. they might be busy right now. >> maybe we can wait. if somebody like amazon could deal with figuring out 5,000 different tax jurisdictions, it would be a pain, but they could figure it out. >> they can deliver packages with a drone, they can figure this out. >> right. it's complicated stuff, but it's people who are the -- >> was that a pr stunt yesterday o
>> i do buy it on amazon and i do pay taxes. in the state of new jersey, you have to say here is what i bought and i go and i print out everything i bought on amazon and i do pay sales tax on it. >> that's why i don't buy anything. >> it's complicated. but what i will say is has not said they are interested in ever collecting it. their problem is trying to figure it out. their point is they would hike a federal system set up that says you either pay one state sales tax or you...
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tax and spend. if i were the republicans i would do nothing. let the sequester happen. >> what are we on now, three years of rollicking with our fiscal policy. it's interesting just how mum everyone's been as this week wrapped up. so we'll see what happens in the coming days, but it's notable that there isn't a whole lot of speculation. i certainly -- i heard loud and clear what john just said. but beyond that, we don't know. >> well, i think there's no appetite for a shutdown. i agree. but jimmy, i don't know, i'm not sure i really understand the politics here from the republicans side. talk to me. talk to me about this because they have the hand. they hold the ace of the gop. why do they have to mess around with this kind of package? >> since 2009, two amazing things have happened. one, somehow we got almost all of the bush tax cuts extended. that's pretty good and somehow we have had to back-to-back years with the declining spending that's the first time that happened since the korean war. >> whi
tax and spend. if i were the republicans i would do nothing. let the sequester happen. >> what are we on now, three years of rollicking with our fiscal policy. it's interesting just how mum everyone's been as this week wrapped up. so we'll see what happens in the coming days, but it's notable that there isn't a whole lot of speculation. i certainly -- i heard loud and clear what john just said. but beyond that, we don't know. >> well, i think there's no appetite for a shutdown. i...
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they leave out the earned income tax credit, for example. these things are so -- >> you have to look at the report that says all of that stuff. >> we did. that looks much better. jared, let me ask you this. i listened to the president's so-called solution today. he wants to raise the minimum wage, right? he wants more infrastructure spending. he wants to end tax loopholes. he wants more spending. can i just say how totally boring that is? that's all he ever says. the guy either needs, a, a new speech writer or, b, a new policy or preferably both because he can't keep standing up with the same four silly bullets and say that that is going to improve the american economy which is producing the worst economic recovery in the modern era. >> i wouldn't expect you to -- i wouldn't expect you to like three of those four, but the fact that he has consistently talked about lowering the corporate tax -- >> but he didn't talk about that today. >> he did. >> he just talked about closing loopholes. >> he's referencing his plan to lower the corporate rate
they leave out the earned income tax credit, for example. these things are so -- >> you have to look at the report that says all of that stuff. >> we did. that looks much better. jared, let me ask you this. i listened to the president's so-called solution today. he wants to raise the minimum wage, right? he wants more infrastructure spending. he wants to end tax loopholes. he wants more spending. can i just say how totally boring that is? that's all he ever says. the guy either...
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start a tax-free business at startup-ny.com. we're open to it. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. but it doesn't usually work that way with health care. with unitedhealthcare, i get information on quality rated doctors, treatment options and cost estimates, so we can make better health decisions. that's health in numbers. unitedhealthcare. you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. >> when it comes to retail, it's the taim of two cities. they're all about the have's and have-not's. tonight we have a chance to
start a tax-free business at startup-ny.com. we're open to it. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. but it doesn't usually work that...
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in aventura, florida. $1.2 million, $10,559 taxes. it's a beautiful home. >> for the shopaholics, this is minutes away from aventura mall, the highest grossing mall in the united states. this is an aventura and country club estates. what's unique about this is there are only 80 homes in this neighborhood, and it's overlooking the golf course and a bird preserve lake. and you can walk or jog around the vita course which is three miles long. so this is a very popular neighborhood. great buy. i expect this to sell in just weeks for $1.29 million. 4 bedrooms, 3 1/2 baths. another great bargain. >> thanks for spending time with us. we appreciate it. ty, down to you. >> thank you. >>> thanks very much. "vogue" magazine described norwina as one of the most inspiring women in the world. she's also a noted economist and adviser to presidents and ceos. she gets paid to help people make smarter decisions. her thoughts for executives, investors and people like you next. when does your work end? does it end after you've expanded your business? aft
in aventura, florida. $1.2 million, $10,559 taxes. it's a beautiful home. >> for the shopaholics, this is minutes away from aventura mall, the highest grossing mall in the united states. this is an aventura and country club estates. what's unique about this is there are only 80 homes in this neighborhood, and it's overlooking the golf course and a bird preserve lake. and you can walk or jog around the vita course which is three miles long. so this is a very popular neighborhood. great...
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the federal government is more taxes and more regulation. we will have the other states. >> we will sell 16 million automobiles. we have 950,000 housing starts. >> next year is going to be the year that it is not that eeoc siting and it's time to be more of an opera player. find the stocks that have a great story, something behind them and allocate your money there. the beta is challenging there. it's hard to move up a lot. they are highly complimentary. we are keeping all the airplanes and all the people. supply should be on change. >> guy? >> talked about this last week. you overlay a honey well chart and you will see the outperformances there. although it has had a meteoric rise, i think that honeywell is interesting. >> i'm long ge. i think they have major exposure. the entire u.s. economy is on trend. to say that we're just trying to get over the trauma here and some of the data is already there. >> will the snow and ice keep shoppers at home or will they bare the elements. dan, always good to see you. what have you seen so far? we have
the federal government is more taxes and more regulation. we will have the other states. >> we will sell 16 million automobiles. we have 950,000 housing starts. >> next year is going to be the year that it is not that eeoc siting and it's time to be more of an opera player. find the stocks that have a great story, something behind them and allocate your money there. the beta is challenging there. it's hard to move up a lot. they are highly complimentary. we are keeping all the...
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federal state and local taxes. so as these credits become stressed and distressed, and these situations emerge, firms like ours, other firms, become interested in the relative value of these bonds. so it's in these times and others, frankly, that we welcome a liquidity, the increased liquidity and the increased participation of professional investors who have a sense of how to navigate these waters. >> briefly, lawrence, is puerto rico too big to fail? >> i wish it were that simple. puerto rico has an enormous number of issues to confront. and frankly, dwarfs detroit by comparison in size. you're looking at $70 billion worth of issuance that is eye bi ubiquitously held. puerto rico is a complex problem, dwarfing detroit by size and magnitude. >> lawrence, thank you for joining us this morning. >> i appreciate it. >> we'll take a short break. still to come, it is a case of unhappy meals. can the protests make a u.s. minimum wage more or less likely? [ male announcer ] how can power consumption in china, impact wool
federal state and local taxes. so as these credits become stressed and distressed, and these situations emerge, firms like ours, other firms, become interested in the relative value of these bonds. so it's in these times and others, frankly, that we welcome a liquidity, the increased liquidity and the increased participation of professional investors who have a sense of how to navigate these waters. >> briefly, lawrence, is puerto rico too big to fail? >> i wish it were that simple....
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taxes on past tickets don't matter. ual. >> mike murphy. >> petro pbr, run from 14 to 19 and pulled back here recently around the 14 level again. >> dr. j what do you see? >> facebook, unusual activity. they rolled up from the 45s to the 50s in january, watch this one, judge. >> watching that and you're watching "power" right now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. >> gentlemen, thank you very much. crisis over, our call. steve liesman reporting the fed is likely to begin tapering next week. d.c. close to a budget deal, new regulations in place for wall street, and new dawn for the big banks. the government out of gm and europe is stabilizing. we're going to have playbook on how you should play it. what do these gentlemen think about it? a rare and exclusive interview with the co-ceo of the private equity giant carlyle group and exclusive with time
taxes on past tickets don't matter. ual. >> mike murphy. >> petro pbr, run from 14 to 19 and pulled back here recently around the 14 level again. >> dr. j what do you see? >> facebook, unusual activity. they rolled up from the 45s to the 50s in january, watch this one, judge. >> watching that and you're watching "power" right now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now....
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people doing tax planning before the end of the year? >> the people i talked to on the retail side are talking about not selling, trying to carry profits into next year. that's what we see on the retail side. my timing models that called for pullback, are calling for a pullback here. they say it's a go ahead time to be cautious. if you get a pullback i think it sets up the fabled santa claus rally like your previous guest -- >> what's going on bob? >> we have weakened going into the close the last couple of weeks. interest rate stocks are under pressure. ism is strong, setting up the possibility of a strong jobs report on friday. interest rate sensitive groups are getting hit hard housing, telecom is weak. this might be still about what the fed is doing, tapering becomes more likely on friday and that's bothering the market. >> you think,fy read you correctly, the dips we've seen bought left and right this is another dip to buy? >> i don't think it's right right here, but further down if we break the 1760 area you could get a 5% 7% pullb
people doing tax planning before the end of the year? >> the people i talked to on the retail side are talking about not selling, trying to carry profits into next year. that's what we see on the retail side. my timing models that called for pullback, are calling for a pullback here. they say it's a go ahead time to be cautious. if you get a pullback i think it sets up the fabled santa claus rally like your previous guest -- >> what's going on bob? >> we have weakened going...
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nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company and profitable group like eads should have a duty to ensure that there are no forced layer. the comments came just a few hours after eads announced 5,800 job cuts. restructuring will affect roughly 2,000 jobs in germany, 1,260 in france, 567 in spain and 550 in the united kingdom. in france, eads is going to sell its paris headquarter, since the headquarter of the company has been moved. the plan will be implemented over the next three years. some of the terms will be offered in terms of mobility. but eads warned this morning that there could be additional job cuts in the future should the bu
nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company...
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sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you replace the $2 billion? >> sales taxes. >> will they have to go up? >> no, i'm cutting taxes -- i've cut taxes every year. i've been governor three years, cut taxes basically 24 times. it's property taxes, business taxes, sales tax. we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -
sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you...
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you would have a humongous tax bill brought on by yourself, and so far not many losses do. if you're an institution, you want to show your clients that you own it. that makes the stock blessed. third, unlike most of the bricks and mortar outfits out there, amazon does have a real mystery. the possibly of a lights out quarter could be in the cards. walmart and target keep going down. finally, when it comes to the worth of amazon, there is a simple answer you can get. it's worth what people will pay for it. the answer is they'll pay $400, or $178 billion for the stock where it was trading this morning before the pullback. that's when the discipline comes in. as i've been saying for a while now, you have to recognize that the idea of a bubble in stocks has kept you out of so many winners that it's just unforgivable. if you're a performance manager. look, i can't blame anyone for wanting to sell amazon, or so many other stocks for that matter based on valuation. i know it's way too expensive for my charitable trust. we're not going to do that. but this weekend also on twitter s
you would have a humongous tax bill brought on by yourself, and so far not many losses do. if you're an institution, you want to show your clients that you own it. that makes the stock blessed. third, unlike most of the bricks and mortar outfits out there, amazon does have a real mystery. the possibly of a lights out quarter could be in the cards. walmart and target keep going down. finally, when it comes to the worth of amazon, there is a simple answer you can get. it's worth what people will...
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democrats don't want to raise taxes. how are we going to find the savings? with that in mind, my best guess is that we don't have another shutdown. >> how do you avoid the shutdown? >> a continuing resolution that keeps sequestration in place. another short term. we've done it 14 times. we can fund the government through a continuing resolution. >> morris, is that the back stop there? >> yeah, i'm not for sure it's going to work this time. there is mounting pressure in the business community as my colleague knows. there is the pressure of mid term election as a lead up to the next presidential election and i would say i would read the tea leaves. the way they're getting together on the farm bill is an indication republicans want to play ball a little bit more. those are farm bills. farmers are their constituents. i think there's a con volution of things with the re-election and mid term. the presidential election is very important in this lead up, particularly since the fumble with obama care. the republicans may see an opening and may be a reason for them t
democrats don't want to raise taxes. how are we going to find the savings? with that in mind, my best guess is that we don't have another shutdown. >> how do you avoid the shutdown? >> a continuing resolution that keeps sequestration in place. another short term. we've done it 14 times. we can fund the government through a continuing resolution. >> morris, is that the back stop there? >> yeah, i'm not for sure it's going to work this time. there is mounting pressure in...
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this is tax law season where investors sell their losers to offset the gains they made. and people got gains galore. at a moment a few stocks are down, selling ibm and cat could be particularly brutal. once we get to 2014, there will still be plenty of more long-term problems here. ibm is being challenged by the cloud. its book of business is not in tune with the simple inexpensive nature of cloud computing. the whole watson thing, the race for the most powerful, analytical computer means nothing in this day and age. you won jeopardy, sold. many companies provide excellent data analytics. you don't need ibm. ibm offers the fabled one-stop shop. but then again, information technology outfits are increasingly going a la carte, something we saw with dream force, a celebration of everything that ibm is not. accused ibm as being irrelevant and not offering companies anything close to a bargain. heavy hardware, big iron, no thank you. meantime, ibm spends much of its free cash flow buying back stock. it's a giant cyclical company without any real growth at all. i have to tell
this is tax law season where investors sell their losers to offset the gains they made. and people got gains galore. at a moment a few stocks are down, selling ibm and cat could be particularly brutal. once we get to 2014, there will still be plenty of more long-term problems here. ibm is being challenged by the cloud. its book of business is not in tune with the simple inexpensive nature of cloud computing. the whole watson thing, the race for the most powerful, analytical computer means...
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rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] this december, experience the gift of unsurpassed
rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp...
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idea of tax avoidance is better than -- >> that sounds like it is not tax avoidance, that is tax evasion. if you're avoiding the taxes, it should be able to with stand -- >> it might be satisfying just to do it so they can't see. even if you're not breaking the law. >> by itself, it doesn't sound that bad. but when you combine it with the nsa reading the e-mails and you get into the long arm of the law -- >> no, i'm in favor of this. i'm in favor of the fed going after this because i think in order for taxation to work, that everybody should be held up to the same laws. you can find about what those tax laws should be, but you -- whatever the law of the land is what we all have to live under that rule. >> we have people in congress now that are -- that want to make -- they don't care where the u.s. companies are. it's almost a punitive. they look at apple and the way that -- >> but these are individuals who are hiding money over there. >> but this makes the end of every hollywood caper not true any more. the idea of the guy who does the crime and escapes to the -- >> that is my point. >>
idea of tax avoidance is better than -- >> that sounds like it is not tax avoidance, that is tax evasion. if you're avoiding the taxes, it should be able to with stand -- >> it might be satisfying just to do it so they can't see. even if you're not breaking the law. >> by itself, it doesn't sound that bad. but when you combine it with the nsa reading the e-mails and you get into the long arm of the law -- >> no, i'm in favor of this. i'm in favor of the fed going after...
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taxes and health care. it made no difference. >> if you do -- i know you don't -- but you know that obama care's at 57%. >> forget it. >> if that was the issue, it was just obama care, you wouldn't have gotten 51%. but what elected -- what spawned the tea party, what spawned that 2010 route was the way the democrats passed obama care where you took 20% of the economy without a single republican vote. you even lost ted kennedy's seat in the process as it was happening, had to do reconciliation. it was ugly, that's why we're sitting here in this poisonous atmosphere. and look what we're dealing with with obama care. do you think you should have done it that way? >> but the fact of the matter is, we were also in the deepest recession anyone here has experienced. >> can i ask one question? >> which leads to anger and fear and reaction against all of those that they felt responsible had to put them in that trick bag. >> we are up against a hard break with the commercial. but, leader, would you stay for the next
taxes and health care. it made no difference. >> if you do -- i know you don't -- but you know that obama care's at 57%. >> forget it. >> if that was the issue, it was just obama care, you wouldn't have gotten 51%. but what elected -- what spawned the tea party, what spawned that 2010 route was the way the democrats passed obama care where you took 20% of the economy without a single republican vote. you even lost ted kennedy's seat in the process as it was happening, had to...
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had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health a
had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the...
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enterprise value, the market cap plus the debt, minus the cash, divided by the earnings before interest, taxes, depreciation, amortization of 9.8. credit suisse gives it a $25 price target. the stock still has plenty of room to run, if that's how you want to value it. meanwhile, it's trading at 19 times next year's earnings, which is well below the five and ten-year averages and not too pricey considering it should be able to grow earnings at a 40% clip next year. the bears at goldman think it's time to sell masco and swap into some nonresidential construction plays as that space starts to turn. i think they're wrong. i think they're wrong to write off masco and i agree with the bulls at credit suisse, believing this stock could have more room to run. i say stick with masco and stick with cramer. lou in oregon, lou? >> caller: boo-yah, skedaddy. >> i'm not booing, i'm louing. >> caller: hey, about six months ago, you recommended and i bought two stocks, american realty capital properties and also health care reit. i'm wondering, should i by more? >> i would. look, these are all about -- this g
enterprise value, the market cap plus the debt, minus the cash, divided by the earnings before interest, taxes, depreciation, amortization of 9.8. credit suisse gives it a $25 price target. the stock still has plenty of room to run, if that's how you want to value it. meanwhile, it's trading at 19 times next year's earnings, which is well below the five and ten-year averages and not too pricey considering it should be able to grow earnings at a 40% clip next year. the bears at goldman think...
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it seems like rahm emanuel is going to have issues regarding property taxes and raising property taxes, because they have a pretty big gaping deficit hole. do you have any advice or any issues that you think we can learn from on how you negotiate on a state level with respect to rahm emanuel on a city level? >> i think it is important to negotiate, to sit down with everyone, and we did. ultima ultimately, you put together a solution, and sometimes folks don't agree, but it has to be done for the common good, the everyday taxpayer, the person that gets up, raising kids, we want to make sure they come first. >> i tell you what. i recently governored the governors estate, my daughter had big shows, and always like in the haunted mansion, where the pictures are hung, the paint's a different color. we've had so many governors from otto to ryan to blagojevich, where they're taking these and leaving the mark. governor, i'm sure your picture will stand for a long time. >> all right. thank you. >> let's get to dominic chu. >> look at barnes & noble, because there's reports now that the s.e.c. i
it seems like rahm emanuel is going to have issues regarding property taxes and raising property taxes, because they have a pretty big gaping deficit hole. do you have any advice or any issues that you think we can learn from on how you negotiate on a state level with respect to rahm emanuel on a city level? >> i think it is important to negotiate, to sit down with everyone, and we did. ultima ultimately, you put together a solution, and sometimes folks don't agree, but it has to be done...
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done a big financing, and if they really, really wanted to, they could repatriate some cash and pay taxes. that's probably not what's going to happen. >> no, they're not going to do that. >> the stock on its own merit will do fine. >> just focus on the product, and the margins are stabilizing, and those are more important, i think, in the near term. >> here's a question. how would you like a look at tomorrow's jobs numbers today? up next, we're talking to someone who get as very unique perspective from background checks. that and much more is just ahead. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-25
done a big financing, and if they really, really wanted to, they could repatriate some cash and pay taxes. that's probably not what's going to happen. >> no, they're not going to do that. >> the stock on its own merit will do fine. >> just focus on the product, and the margins are stabilizing, and those are more important, i think, in the near term. >> here's a question. how would you like a look at tomorrow's jobs numbers today? up next, we're talking to someone who get...
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. >> david cameron announcing today that he's not going to cut taxes for the middle classes. how much room, wiggle room is there going to be for the government, peter? much depends on what you think the economy is going to do this year and next ahead of the election. >> yeah. i think the likelihood is that the economy will continue to grow at a 2% to 2.5% late next year. that's decent, but it's not stellar. given all they have said about reducing the deficit over the next few years, it leaves room for cutting taxes. i think what the uk needs is a rebalancing towards investment and exports. the government realizes this and i think as a consequence it's unlikely to do things to throw additional fuel on the fire of consumption. >> do you think the government is doing enough? are you expecting any measures, say, on planning tomorrow from the troika? would that have helped? we had construction pmis this week very strong, rising like a phoenix out of the ashes. but many suppliers saying the supply side of that market is still very, very underperforming. >> yeah. i mean, when it com
. >> david cameron announcing today that he's not going to cut taxes for the middle classes. how much room, wiggle room is there going to be for the government, peter? much depends on what you think the economy is going to do this year and next ahead of the election. >> yeah. i think the likelihood is that the economy will continue to grow at a 2% to 2.5% late next year. that's decent, but it's not stellar. given all they have said about reducing the deficit over the next few years,...
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we have got the earned income tax credit. we have got to make work pay. >> there are many of your colleagues who will say even though it doesn't sound as nice they like the earned income tax credit. it's less -- it's a different kind of potentially more precise tool. what about something like that as an answer here? >> here's the problem. what it does is force the government, force the taxpayer to pick up the cost of the businesses that don't want to pay their employees. we have small businesses that pay low wages, they are privatizing the benefits. but they are sociallizing the cost of the rest of society. a $12 an hour minimum wage would save tens of billions of dollars. >> michael? >> but you still have that group of smaller employers who are going calculate the cost of the extra hourly earnings and say i'm only going hire one and a half people i'm going to reduce to part time. i'm not going to spend more money out of my poblgtcket. and i think it does put pressure on the low end of jobs. >> final word? >> i think $12 an h
we have got the earned income tax credit. we have got to make work pay. >> there are many of your colleagues who will say even though it doesn't sound as nice they like the earned income tax credit. it's less -- it's a different kind of potentially more precise tool. what about something like that as an answer here? >> here's the problem. what it does is force the government, force the taxpayer to pick up the cost of the businesses that don't want to pay their employees. we have...
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and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were doing it to try and increase entrepreneurial activity. i think the best way to do that is a capital gains tax, not income tax. so i think that was misplaced. and i think at a time when people were worried about inequality and equality, which was high on the political agenda, i think it was the wrong thing to do. >> it brings up a lot of issues about income equality. and we know the one thing that solved income equality is growth and jobs. growth and jobs. not entitlements, not redistribution, it's growth and jobs. and some of the efforts to do it the other way, to have the government orchestrate a shrinking of it -- >> fa
and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were...
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i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a different fund if you need to. take the loss, put it in your pocket if you don't need it and carry it forward. tax law accounting is huge in investing. >> we've been out of the muni market for the past 14 to 15 months when munis started getting back over 5% we've been a buyer. we've been aggressively buying municipal bonds. >> rob morgan any opinion on that before we go, quickly? >> absolutely. i think having a portfolio for individual investor tilted more toward short end and rising rate environment makes sense. i think detroit bankruptcy spells trouble more for retirees on pension plans more for than muni bond investors. >> a
i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a...
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on those programs, paid for by some revenue and some entitlement cuts but the revenue would not be tax increases, thing like user fee, and entitlement cuts would not be medicare and social security avoiding those hot buttons like curbing federal retirement. the negotiators hope to announce this by the end of the week so congress can act next week. remember when the government was reopened they set a december 13th deadline and democrats and republicans are reasonably optimistic that they can do that next week, guys. >> good stuff there. john harwood, we'll keep a close eye on that. >> this might come as good news to our next guest. a survey out shows ceos are feeling more optimistic about the economy. will that mean more jobs? ask jon engler president of the business round table and former governor of michigan. governor, welcome back to "street signs" here. before we get to the ceo survey, i just got to ask you a question about detroit. your view on the ruling yesterday? >> well, i think it's been pretty foreshadowed by judge rhodes, he's an excellent judge and this is a landmark ruling
on those programs, paid for by some revenue and some entitlement cuts but the revenue would not be tax increases, thing like user fee, and entitlement cuts would not be medicare and social security avoiding those hot buttons like curbing federal retirement. the negotiators hope to announce this by the end of the week so congress can act next week. remember when the government was reopened they set a december 13th deadline and democrats and republicans are reasonably optimistic that they can do...
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you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones. >> do you remember the conference call that was the open rebellion against tim cook? it was withone of these things e i thought it was 1948 where stillwell had just lost china and now he's making a move. he did not lose china. >> we'll see. that fortune story has a lot of people talking about whether china mobile makes a big move in this direction, having not carried their phones till now. >> maybe samsung -- don't hear a lot about samsung having a revolutionary new phone. >> no, although they've got a lot of new patents, they're going to do the curve thing or
you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones....
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the abe government unveiled the $54 billion stimulus package that's aimed at offsetting the sales tax in april. and the shanghai composite pulled further ahead. meanwhile, the hang seng index added 0.1%. elsewhere, south korea and australia both ended just a tad lower. as for individual stocks, chinese property stocks came under some pressure after the official china securities journal reported beijing may remove caps on property prices next year, replacing them with supply side indicators and concerns still linger over a potential property tax system. now for some outperformers, let's take a look at the region's apple suppliers, seeing a strong boost from hopes that china mobile may reach a deal with apple to offer iphones. some phone displaymakers, cameramakers and case suppliers rebounded some 5% in today's trade. back to you, karen. >> sixuan, thank you very much update. charles has been telling us about this u.s. cash flood that you're expecting. are you saying buy u.s. assets, buy u.s. equities in 20 s14? >> things probably weaken at the moment because a lot of guys made a lot o
the abe government unveiled the $54 billion stimulus package that's aimed at offsetting the sales tax in april. and the shanghai composite pulled further ahead. meanwhile, the hang seng index added 0.1%. elsewhere, south korea and australia both ended just a tad lower. as for individual stocks, chinese property stocks came under some pressure after the official china securities journal reported beijing may remove caps on property prices next year, replacing them with supply side indicators and...
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frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform is important to us. >> frank freetdman, great to see you. thank you for joining us. >> appreciate it. >> my pleasure. >> thank you very much. >> we have about 40 minutes left to go before the closing bell. the dow now up about 174 points. 18 points or so on the s&p. it is sitting below the 1805 level that would put us back in the black for the week. >> while shoppers are hunting for holiday gifts, some retailers are shopping for a present that could last a whole year and a lot longer. a new ceo. we have that story coming up. >>> and one retailer not loo
frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform...
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if you are a foreigner for tax purposes. your non-residence for tax purposes. they'll start charging capital gains tax on residential properties when you sell. guys, back to you. >> all right, simon, thank you so much. >>> let's get a check on energy and commodities. sharon epperson at the nymx today. hey, sharon. >> hey, carl. we told you about the surge in natural gas on the storage data that was much more bullish than expectations. looking at natural gas continuing the rise, up almost 3%, and we're up about 10 cents on the session. we're continuing to watch what's happening with oil prices, as well, because it's a mixed picture there with brent crude down right around 11 -- 111.50 a barrel. but we're looking at the u.s. oil, the wti contract, which continues to climb here, well above $97 a barrel, and that spread between the two has come in significantly from last week. of course, we do know we did get a decline in crude supplies for the week, the first time that's happened in 11 week, but total petroleum demand is at the highest levels of the year, and that
if you are a foreigner for tax purposes. your non-residence for tax purposes. they'll start charging capital gains tax on residential properties when you sell. guys, back to you. >> all right, simon, thank you so much. >>> let's get a check on energy and commodities. sharon epperson at the nymx today. hey, sharon. >> hey, carl. we told you about the surge in natural gas on the storage data that was much more bullish than expectations. looking at natural gas continuing the...
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it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the benefits for the long-term unemployed. that is making up a record percentage of the people in this country who are unemployed. do you get the sense that congress is looking at the jobs report and saying, hey, maybe we shouldn't move the needle on that right now? >> i think that is difficult in part, because when you look at the size of this deal, we are only talking about $90 billion over two years of lifting the sequester caps and replacing them. it is more of a reshuffle. the unemployment extension would cost $25 billion. that is a very lar
it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the...
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the other side says, we need a better, more simplified tax policy. and they have a good point as well. what can you guys bring to the table that will help clarify things to end some of the gridlock that exists so badly in washington right now? >> this is a good question. the first thing you need to make a good decision is good analytics and good commentary. information to make a good decision. we hope to be able to bring really good information that's nonpartisan, reliable and authoritative to the process. that's point one. the other thing i would say is that from my perspective today, in terms of where we are with fiscal policy, both our long-term policy, which is undisciplined and has excessive spending going out forever, and our short-term policy which is tightening, are both wrong. in fact, what you want to do is precisely opposite. have a little stimulus for the economy to get it going but have long-term reform of the entitlemen entitlements, certainly for the business community they can invest and hire because our policy stance is in good shape
the other side says, we need a better, more simplified tax policy. and they have a good point as well. what can you guys bring to the table that will help clarify things to end some of the gridlock that exists so badly in washington right now? >> this is a good question. the first thing you need to make a good decision is good analytics and good commentary. information to make a good decision. we hope to be able to bring really good information that's nonpartisan, reliable and...
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funny, we walked into december saying it's the best time of the year, why would you want to pay the tax year? >> there's a lot of people positioning themselves for a big number on friday in the nonfarm payroll. they say why not teak profits. alternatively there's a vacuum of information and people say i got a great year. i'm concerned only that when you get to 3 there will be another wave of selling and that may be when you buy. that wave of selling. not this wave. >> do a little picking. always good to pick. >> we did come into this week giving all the reasons why there were very few reasons to sell. >> and that was bad. i fell into that complacency. by the way, there is one place where we saw -- i want to point out i like oil here. you have opec saying all the right things, you have no real cutbacks. you have this glut finally ending because you finally got the selling keystone part out of curbing. that is very good for the domestic oil companies and not so good for the refiners. >> the biggest losers this morning, valero -- >> a lot of people said goi goto get into refineries, i got
funny, we walked into december saying it's the best time of the year, why would you want to pay the tax year? >> there's a lot of people positioning themselves for a big number on friday in the nonfarm payroll. they say why not teak profits. alternatively there's a vacuum of information and people say i got a great year. i'm concerned only that when you get to 3 there will be another wave of selling and that may be when you buy. that wave of selling. not this wave. >> do a little...
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taxes on past tickets don't matter. ual. >> mike murphy. >> petro pbr, run from 14 to 19 and pulled back here recently around the 14 level again. >> dr. j what do you see? >> facebook, unusual activity. they rolled up from the 45s to the 50s in january, watch this one, judge. >> watching that and you're watching "power" right now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now. >> gentlemen, thank you very much. crisis over, our call. steve liesman reporting the fed is likely to begin tapering next week. d.c. close to a budget deal, new regulations in place for wall street, and new dawn for the big banks. the government out of gm and europe is stabilizing. we're going to have playbook on how you should play it. what do these gentlemen think about it? a rare and exclusive interview with the co-ceo of the private equity giant carlyle group and exclusive with time warner's ceo. and what an incredible 24 hours. culminating in this a new ceo. this is just a day after the governme
taxes on past tickets don't matter. ual. >> mike murphy. >> petro pbr, run from 14 to 19 and pulled back here recently around the 14 level again. >> dr. j what do you see? >> facebook, unusual activity. they rolled up from the 45s to the 50s in january, watch this one, judge. >> watching that and you're watching "power" right now. >> "halftime" is over. "power lunch" and the second half of the trading day starts right now....
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. >> again, that's people i think not wanting to take tax -- not wanting to have to pay a tax bill. really, again, "usa today" wall street looks like pamplona. you think this is an article which says bubble, bubble, bubble. instead it is about how broad the advance is. it's a very positive article how the advance is different from some of the advance that is have led to big falls. very smart piece. >> the dow's gained year to date three times the gain of last year. do you expect that trend to continue into 2014? in any way? >> i think it's very hard if we forget we will have another washington bruising. right? do you think anything's gotten better there? i mean, we don't mention the health care. everyone talks about the health care site. i saw oracle mentioned as a possible problem in the "the new york times" piece and a thing that dazzles me is how we forget. right now. that there's a republican party that hates the president. but in another month we'll talk about that ian good for 6%, 7%, 8% decline. >> without a doubt and facing the same issues we faced a couple of months ago. >>
. >> again, that's people i think not wanting to take tax -- not wanting to have to pay a tax bill. really, again, "usa today" wall street looks like pamplona. you think this is an article which says bubble, bubble, bubble. instead it is about how broad the advance is. it's a very positive article how the advance is different from some of the advance that is have led to big falls. very smart piece. >> the dow's gained year to date three times the gain of last year. do you...
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taxes, whereas the not for property guys are the ones receiving subsidies. as far as i'm concerned, money is money. the only difference in private and public money is ideological. you draw a line between the two. public money becomes purer -- >> but it's worth ten cents on the dollar. >> i don't disagree with you. >> you're one of the old democrats. you're looking around saying what am i. >> i don't -- by the way, it's sort of what we were talking about earlier with iran. i don't think it's a question of choosing one or the other. i think you need to have a healthy balance of both. but if you start off with a regulatory bias against the for profit sector. >> you do. >> i understand, i don't disagree. >> i'm appealing to you, stand up and be -- >> i'm sitting down -- >> i think bill clinton was a republican. are you sure he was a democrat? >> i have no idea. >> senator kerrey will be with us for the rest of the program. >> do you want to be called senator or governor? >> you can call me bob. >> he wants to be senator. don't call anyone governor. >> walking de
taxes, whereas the not for property guys are the ones receiving subsidies. as far as i'm concerned, money is money. the only difference in private and public money is ideological. you draw a line between the two. public money becomes purer -- >> but it's worth ten cents on the dollar. >> i don't disagree with you. >> you're one of the old democrats. you're looking around saying what am i. >> i don't -- by the way, it's sort of what we were talking about earlier with...
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. >>> there's a new tax by thailand's government to diffusion tensions in bangkok. allowing protesters inside, tear gas and rubber bullets have given away to calmer demonstrations. the protest leader says the fight will continue. meanwhile, consumer confidence has been hit dropping to a two-year low because of the unrest. the national transportation safety board says the new york commuter train that derails sunday was traveling at 82 miles per hour when it entered a curve where the speed limit was just 30 miles per hour. four people were killed and more than 60 injured. the ntsb says the train's brakes were working properly but were applied just seconds before the crash. >>> and pointing and clicking is becoming the preferred way to shop. adobe says u.s. cyber monday sales topped $2 billion for the first time, up 16% to 2.9 billion. adobe tracks visits to 2,000 websites. a record 18% came from mobile devices. other trackers report even higher numbers. ibm dish analytics, sales rose and amazon sales were up 44% as of 6:00 p.m. eastern and ebay's were up 32%. gloo glo
. >>> there's a new tax by thailand's government to diffusion tensions in bangkok. allowing protesters inside, tear gas and rubber bullets have given away to calmer demonstrations. the protest leader says the fight will continue. meanwhile, consumer confidence has been hit dropping to a two-year low because of the unrest. the national transportation safety board says the new york commuter train that derails sunday was traveling at 82 miles per hour when it entered a curve where the...
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because later on this afternoon in "street signs, reque signs," wer big companies, not just in time for tax season, but one you'll want to put on your radar. back to you. >> all right. one stock to watch is clearly twitter. we're looking at the highest levels since the company went public. $52.59, off slightly from the level. but we'll talk more about why twitter is behaving so well in just a moment. the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ thaso ally bank has a puts more that won't trap me in a rate. that's correct. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd.
because later on this afternoon in "street signs, reque signs," wer big companies, not just in time for tax season, but one you'll want to put on your radar. back to you. >> all right. one stock to watch is clearly twitter. we're looking at the highest levels since the company went public. $52.59, off slightly from the level. but we'll talk more about why twitter is behaving so well in just a moment. the american dream is of a better future, a confident retirement. those dreams,...
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the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding back the growth? >> it is holding back the growth. i thought it would hold back growth more than it did. i think most of the private sector who look at the economy for 2013 say that the austerity and the fiscal drag cut at least one point or almost two points off the system. i think austerity did not help the growth rate. >> i figured you would be opposite sides of the fence. >> 1% of the 1.5% is the tax hike. 1% of the drag this year out of the 1.5. >> i agree with that. >> meantime, signs this week that maybe i don't know, maybe the bailout -- automakers may be worth it. gm and chrysler, double digit numbers. treasury department planning to sell the last of its stock in gm by the end of the year. so interesting to me. do you think this proves what wa
the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding back the growth? >> it is holding back the growth. i thought it would hold back growth more than it did. i think most of the private sector who look at the...
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those taxes hold. now will the rest of the states start to decide, you know, we're emboldened, we're going to try to go after more of the taxes. >> the law has been store on this. it started with sport books, betting online. they went back to the 1960s communication acts to find wiretapping and stuff, ways to get their hand on it. this has been happening to are a while, as the internet is creating commerce, government wants a slice. >> right. it's a big slice. it is a really big slice. brick and mortar and online retailers are merging. look at something like amazon, they have 34 mufulfillment cents across the country. i think what it could mean for new york and it has been, some of the big online retailers are going to make sure they're not creating jobs in new york. they want to continue to argue we don't have a physical presence in new york. >> i live here, if i'm buying fishing equipment in tennessee and shipping it to someone else, it's all of these cross state laws. >> everyone says it's messy, ma
those taxes hold. now will the rest of the states start to decide, you know, we're emboldened, we're going to try to go after more of the taxes. >> the law has been store on this. it started with sport books, betting online. they went back to the 1960s communication acts to find wiretapping and stuff, ways to get their hand on it. this has been happening to are a while, as the internet is creating commerce, government wants a slice. >> right. it's a big slice. it is a really big...
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frankly a lower flatter tax for americans is good. believe in appen to an earned income tax credit. that could accompany it. it's one way. we had the largest tax cut in the united states in the last budget. we -- we have earned income tax credits. refundable. it helps people. that's a reagan philosophy. help them both ways. so with carried interest. i haven't spent enough time it.nking about it should be on the table. at the end of the day, let's not up omething that gums venture capital that's creating the 24th century businesses. let's be careful about that. is a question about popularity. conservatism and populism and marrying those two things together. i'll keep going, to rick's dad, my dad, john's day. of people just think, wall 16,000 the dow over people losing, seeming every further and further behind. too big to fail, bigger to fail, bigger than before. there are a lot of conservatives with a small c out there that conservative populist talking about this issue, talking about breaking up banks. why are -- why do we keep to move bad behavior forward and rewarding bad behavior
frankly a lower flatter tax for americans is good. believe in appen to an earned income tax credit. that could accompany it. it's one way. we had the largest tax cut in the united states in the last budget. we -- we have earned income tax credits. refundable. it helps people. that's a reagan philosophy. help them both ways. so with carried interest. i haven't spent enough time it.nking about it should be on the table. at the end of the day, let's not up omething that gums venture capital that's...
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is the uk taxpayer funding a tax of stolenthe transfer funds? be familiar with the tax laws. i think we'll move on to the next -- don't see -- >> order, mr. ellis. perhaps we must go to the the 1930s.n asking you questions. were you surprised at the amount of intelligence gathering which revealed as a result of what snowden gave to your newspaper media outlets? >> i think many people are the amount of -- > gave yourself, if i may interrupt, were you -- >> i was staggered. think we all knew that the intelligence agencies collected data.of and people are still trying to make out as though this data -- nothing has changed in the last 15 years since the laws were passed with a lot of analog laws that deal with the digital world. i think the last serious law passed about as 2000, athis material was time when facebook hasn't been doing d, when google was the initial funding round. and we're pretending that the really crocodile clips on copper wires are with the e to deal collection of maybe 3 billion metadata around those in a day. so, yes, there's a staggering mount of information
is the uk taxpayer funding a tax of stolenthe transfer funds? be familiar with the tax laws. i think we'll move on to the next -- don't see -- >> order, mr. ellis. perhaps we must go to the the 1930s.n asking you questions. were you surprised at the amount of intelligence gathering which revealed as a result of what snowden gave to your newspaper media outlets? >> i think many people are the amount of -- > gave yourself, if i may interrupt, were you -- >> i was staggered....
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do you file separate tax returns? >> yes. >> are you allowed, since you have a loss on your large tech business and your small software business versus your restaurant -- can you write that loss off against your restaurant? >> no, they are separate. >> what happened to business aggregation? , there is a significant administrative burden comes -- burden that comes with operating both entities. tothe policy would be able provide the health care. would be able to horseshoe the ability to provide health care. we just heard comment that there small businesses are not hiring as a result of the implementation of the president's affordable health jobsact, no affect on hired. is that your experience? >> no, it is not. >> would anyone else like to comment? >> no, it is not. i see it in small and large businesses. >> businesses are not hiring because of the affordable care act? >> i believe it is draining resources from the companies that would be otherwise going to grow the business. >> very interesting. we are dealing with the
do you file separate tax returns? >> yes. >> are you allowed, since you have a loss on your large tech business and your small software business versus your restaurant -- can you write that loss off against your restaurant? >> no, they are separate. >> what happened to business aggregation? , there is a significant administrative burden comes -- burden that comes with operating both entities. tothe policy would be able provide the health care. would be able to horseshoe...
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k stone.this from mar guest: i think tax expenditures is a big problem. there are tax revenues that we should be taking in which we are not because we are subsidizing a significant amount of what some have termed corporate welfare. billions of dollars to the oil and gas industry, they are making record profits. the tax expenditures are costing the american people in ways that are problematic. host: what would you cut the besides defense? guest: revenues that we have lost that would otherwise should take in. other than defense, there is waste and inefficiencies in a wide range of domestic spending programs. i am willing to take a look at almost everything. i think the demonization of social security and medicaid are inappropriate. they are not responsible for the deficit problem we have right now. ronald reagan in a debate with walter mondo and clear social security has nothing to do with the deficit. it was true then and it is true now. att in plano, texas. caller: thank you for taking my call. food stamps is not one of the areas that needs to be cut. it
k stone.this from mar guest: i think tax expenditures is a big problem. there are tax revenues that we should be taking in which we are not because we are subsidizing a significant amount of what some have termed corporate welfare. billions of dollars to the oil and gas industry, they are making record profits. the tax expenditures are costing the american people in ways that are problematic. host: what would you cut the besides defense? guest: revenues that we have lost that would otherwise...
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they're looking at any tax hikes that have been demanded by democrats. we are looking at tax hikes. they are also not looking at significant cuts to medicare, medicaid, or social security, which are areas republicans say needs to be done. instead we are looking at pretty small things and haggling over whether to have federal employees attribute more to their retirement -- employees contribute more to their retirement plans. they are also looking at things a spectrum that is going to be sold to telephone companies. they are looking at a small budget deal that would replace some of the sequester, the automatic spending cuts that were launched in 2011 as part of a but -- part of a different budget process. host: like can't there right now? caller: --host: why can't there be a grand bargain right now? caller: because republicans and democrats can't agree. all ryan, the chairman of the budget committee, and patty murray decided they were not going to go after the towels of the other party and just try to get something that was possible after all these failed budget agreements in the past
they're looking at any tax hikes that have been demanded by democrats. we are looking at tax hikes. they are also not looking at significant cuts to medicare, medicaid, or social security, which are areas republicans say needs to be done. instead we are looking at pretty small things and haggling over whether to have federal employees attribute more to their retirement -- employees contribute more to their retirement plans. they are also looking at things a spectrum that is going to be sold to...
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>> you may not be familiar with the tax laws. i think we'll move on to the next -- >> i don't see -- >> order, mr. ellis. >> perhaps we must go to the courtroom in the 1930's. asking you questions. were you surprised at the amount of intelligence gathering which was revealed as a result of what snowden gave to your newspaper and other media outlets? >> i think many people are staggered by the amount of -- >> gave yourself, if i may interrupt, were you -- >> i was staggered. i think we all knew that the intelligence agencies collected a lot of data. and people are still trying to make out as though this data -- as though nothing has changed in the last 15 years since the laws were passed with a lot of analog laws that deal with the digital world. i think the last serious law that -- that was passed about any of this material was 2000, a time when facebook hasn't been invented, when google was doing the initial funding round. and we're pretending that the laws that cover really crocodile clips on copper wires are stretchable to dea
>> you may not be familiar with the tax laws. i think we'll move on to the next -- >> i don't see -- >> order, mr. ellis. >> perhaps we must go to the courtroom in the 1930's. asking you questions. were you surprised at the amount of intelligence gathering which was revealed as a result of what snowden gave to your newspaper and other media outlets? >> i think many people are staggered by the amount of -- >> gave yourself, if i may interrupt, were you --...
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Dec 4, 2013
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people who are here -- this is a tax. he cannot change tax laws. i wish she would bring that truck driver agreement and when he signed it into law and throughat up immigration and stuff like that. give the american people a voice. the house judiciary committee held a hearing recovered -- we about the president and executive power, republicans siding that he change the health power andy executive that he has done the same on other issues. that,'re interested in you can go to our website c- span.org and you can see it there. we covered that hearing yesterday. that policyying differences don't constitute a constitutional crisis. that was their opinion of yesterday's hearing. in ohio.to ed republican. caller: good morning. of course people should be fired. from the head of the fish to the bottom. there is a pattern in this whole administration. it is nonstop. denial, denial, deny -- they are --yal to ridiculously that would be the last person he would fire. people keep forgetting all of these little things they slipped in. he is very bright. he came in
people who are here -- this is a tax. he cannot change tax laws. i wish she would bring that truck driver agreement and when he signed it into law and throughat up immigration and stuff like that. give the american people a voice. the house judiciary committee held a hearing recovered -- we about the president and executive power, republicans siding that he change the health power andy executive that he has done the same on other issues. that,'re interested in you can go to our website c-...
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Dec 6, 2013
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dodd-frank prohibits the use of tax dollars to bail out any financial firm. it requires that we will and use the tools that the law provides. the largest financial companies have already submitted living wills or blueprints for how to unwind firms if they fail. regulators will require firms to rework these plans if they are not credible. if firms are not able to provide a credible plan, regulators can impose remedies, including requiring firms to divest or realign their businesses. also, realtors have made clear implement the authority which vows the federal deposit corporation to wind it down safely over time. and they are continuing to develop strategies and guidance for resolving major institutions with minimum disruption to the financial system. there is still more work to do, particularly to make sure that international rules mesh with our own since, as we know too well, financial crises do not respect national borders. while we will not know how well these tools work for certain until they are tested by a true crisis, several things are clear. dodd-fran
dodd-frank prohibits the use of tax dollars to bail out any financial firm. it requires that we will and use the tools that the law provides. the largest financial companies have already submitted living wills or blueprints for how to unwind firms if they fail. regulators will require firms to rework these plans if they are not credible. if firms are not able to provide a credible plan, regulators can impose remedies, including requiring firms to divest or realign their businesses. also,...
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Dec 9, 2013
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negotiators are looking at any tax hikes. they're also not looking at significant cuts to medicare, medicaid or social security. instead of looking at small is more to their retirement plans. they're trying to keep that a bit lower. they're also looking at funds by selling a spectrum. looking at a small budget deal. this is part of a different budget process. >> why can there be something like a grand bargain right now? democrats are not willing to do any kind of medicare and medicaid. republicans are not willing to do any tax hikes. ryan and patty murray basically decided that they were not going to go after the sacred cow of the other party. they are trying to get something that was possible. we are not even going to go there this time. host: talking with ian swanson of "the hill." even if there is a agreement made this week, there will be a budget battle for 2014. caller: one thing this he'll will not do is raise the debt ceiling. at some point next year they are going to have to do that. it is a little difficult to foreca
negotiators are looking at any tax hikes. they're also not looking at significant cuts to medicare, medicaid or social security. instead of looking at small is more to their retirement plans. they're trying to keep that a bit lower. they're also looking at funds by selling a spectrum. looking at a small budget deal. this is part of a different budget process. >> why can there be something like a grand bargain right now? democrats are not willing to do any kind of medicare and medicaid....
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Dec 10, 2013
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number three, there's no new taxes. i would have hoped to have a little bit of entitlement reform but that apparently is too much to tackle. >> what do you think about the idea that democrats and republicans worked together on this? >> hallelujah. >> margaret is our next caller from seattle, washington, an independent. hi, what's your comment? >> i just wanted to congratulate ryan and murray for working together for something many of my democratic and republican friends all have as a major complaint. it's not discerning about the details. that's a really big disparity. a lot of us feel disenfranchised by the democrats because it's so sad to see the minority has ruled them instead of the majority of us who put them in place. so this is a really good thing for us. we're waiting for a few years. we kind of jumped off the democrat, went to independent, but there won't be an independent in the running it. will either be democrat or republican. so we're going to wait the next few years to see if they finish what they started,
number three, there's no new taxes. i would have hoped to have a little bit of entitlement reform but that apparently is too much to tackle. >> what do you think about the idea that democrats and republicans worked together on this? >> hallelujah. >> margaret is our next caller from seattle, washington, an independent. hi, what's your comment? >> i just wanted to congratulate ryan and murray for working together for something many of my democratic and republican friends...
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Dec 3, 2013
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they come to the united states to become productive tax paying members of our society. and like the other immigrant groups, immigrants are dealing with the back logged immigration processing, families being ripped apart, falling out of status because they were eeked out. racial and status discrimination, felony laws that prohibit judicial review, deportation processes that violate human rights and prohibitive student visa programs limited access to work permits and much, much more. mr. speaker, it is imperative for us to acknowledge the fact that many immigrants arrive on our shores during a time in their lives when they are most productive. the most productive years in their lives. bringing them to the floor would deny us as a nation the opportunity to access their talent, their skill and abilities in the prime of their lives. additionally, it was important for us to note that african-americans, those descendants of the transatlantic slave trade that i call long time stakeholders of this nation have been affected by our broken immigration system as well. working class
they come to the united states to become productive tax paying members of our society. and like the other immigrant groups, immigrants are dealing with the back logged immigration processing, families being ripped apart, falling out of status because they were eeked out. racial and status discrimination, felony laws that prohibit judicial review, deportation processes that violate human rights and prohibitive student visa programs limited access to work permits and much, much more. mr. speaker,...
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Dec 8, 2013
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but new york state has been through a tax cap. a lot of other budget cuts. the things that teachers actually need to do, work together, use the standard as a guideline not as a straitjacket, have curriculum -- that did not happen. in a couple places it did, in a lot of places it did not. the big mistake that both the federal government made and other people like king made is the level of testing -- king would say to you, i was sick and tired of telling people what to do and then not doing it. that is not your job to tell people what to do. your job is to help navigate people through this. consequently, last year in new york, there were in elementary schools these tests. a lot of people were not prepared. john king and meryl tisch said the test results would be 30% less next year than they were right now. the question is -- how did they actually know the exact number? it creates huge distrust. you can actually figure out what the cut scores were and how to align it. between the lack of preparation for teachers, the lack of communication with parents, and the
but new york state has been through a tax cap. a lot of other budget cuts. the things that teachers actually need to do, work together, use the standard as a guideline not as a straitjacket, have curriculum -- that did not happen. in a couple places it did, in a lot of places it did not. the big mistake that both the federal government made and other people like king made is the level of testing -- king would say to you, i was sick and tired of telling people what to do and then not doing it....
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Dec 7, 2013
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we take a look at tax rates. it is congress that appears to allow a certain batch of temporary tax breaks to last at the end of 2013. ray from oklahoma city oklahoma, you are up next. are you there? good morning, you are on. i was calling about -- our man is going to make mistakes. the problem with the world, it does not have anything to do with obama. we have taken god out of everything he is doing. the next thing, minimum wage. i talked to a lot of people atut minimum wage at 7:25 -- $7.25 an hour. people say if you raise minimum wage, the influence will go up. everything else is already going up except minimum wage. years taken almost four to get it to seven dollars $.25. i am 61 years old, i am retired, and i have four kids. i have kids working for memo wage. they got student loans to pay back. journal"ll street talking about unemployment benefits in several stories, set to expire on september 28. several democrats are pushing for a vote to extend the benefits. house democrats propose renewing the program for
we take a look at tax rates. it is congress that appears to allow a certain batch of temporary tax breaks to last at the end of 2013. ray from oklahoma city oklahoma, you are up next. are you there? good morning, you are on. i was calling about -- our man is going to make mistakes. the problem with the world, it does not have anything to do with obama. we have taken god out of everything he is doing. the next thing, minimum wage. i talked to a lot of people atut minimum wage at 7:25 -- $7.25 an...
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Dec 3, 2013
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tax money to buy american-made. think back on jefferson who told his treasury secretary, give me a plan for the next century. the 18 hub's -- the 1800's. an economic development plan. and teddy roosevelt and then franklin roosevelt. eisenhower. men of vision, leaders of vision that were willing to step forward, willing to use the resources of this nation, collecting those resources and dispensing those resources across the nation, to build the foundation for economic growth. the make it in america agenda is available to us today. that agenda is a trade policy that protects american industry. not a free trade that gives it away, but a fair trade policy that protects american industry , a tax policy that encourages economic growth here in the united states. that rewards corporations for bringing it home and ends tax breaks for corporations that ship the jobs offshore. an energy policy that utilizes the great energy capacity of this nation, everything from conservation and wind and solar and indeed the petroleum produc
tax money to buy american-made. think back on jefferson who told his treasury secretary, give me a plan for the next century. the 18 hub's -- the 1800's. an economic development plan. and teddy roosevelt and then franklin roosevelt. eisenhower. men of vision, leaders of vision that were willing to step forward, willing to use the resources of this nation, collecting those resources and dispensing those resources across the nation, to build the foundation for economic growth. the make it in...
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Dec 5, 2013
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immigrants contribute to our economy through taxes, state and local taxes paid in 2010 alone by households headed by undocumented immigrants was over $11 billion. and this is according to the institute for taxation and economic policy. undocumented immigrants contributed as much as $ billion in payroll taxes to the social security program in 2010. but only took $1 billion in benefits. creating a net positive effect on our social security system. to benefit americans. and this is according to the social security administration. despite their contributions, immigrants face exploitation and significant barriers to advancement. and again, that's not the america we should feel proud of. we have an opportunity to pass comprehensive immigration reform in this great country on this floor. all we need is the opportunity to put a bill up for a vote. and i believe that the majority of members of this house will do the righteous thing, the right thing, and welcome those immigrants and integrate them into our system and we will see the economy of the united states of america flourish once again like we
immigrants contribute to our economy through taxes, state and local taxes paid in 2010 alone by households headed by undocumented immigrants was over $11 billion. and this is according to the institute for taxation and economic policy. undocumented immigrants contributed as much as $ billion in payroll taxes to the social security program in 2010. but only took $1 billion in benefits. creating a net positive effect on our social security system. to benefit americans. and this is according to...
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Dec 8, 2013
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we still have to pay federal income tax on that. they say these people will stay on unemployment and not look for work. unemployment does not pay that much. it is not like you are collecting $1000 a week. it is only like $371 a week with sequestration. it is a good thing my wife works full time. for long-term unemployment, it is not much. unemployment does not last long. i would like your guest to comment on that. guest: there is no doubt unemployment does not replace the income of the job. i think it does speak to the fact that american families are having to readjust their lifestyle and get by with less. when they do take a job, taking $20 an hourom a job. hopefully unemployment gives them time to find the best job for their families. ideologically on the other side, some people say there would be a sense of urgency when benefits run out. host: let me go through the breakdown of the numbers based on gender and race. the overall unemployment rate for white males is 6.7%. teenagers, nearly 21%. whites overall at 6.2%. atican-america
we still have to pay federal income tax on that. they say these people will stay on unemployment and not look for work. unemployment does not pay that much. it is not like you are collecting $1000 a week. it is only like $371 a week with sequestration. it is a good thing my wife works full time. for long-term unemployment, it is not much. unemployment does not last long. i would like your guest to comment on that. guest: there is no doubt unemployment does not replace the income of the job. i...
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Dec 7, 2013
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it seems to me that he has the authority to amend the taxes which the affordable healthcare tax is according to the supreme court what is to prevent him from just amending the any tax to his liking. mr. turley weigh in on this if you would. >> i have to agree first of all oon the remark about article on, as i said before it is true that they are all equal branches, but the framers spent most of their time on congress because it is something harder than the madisonian system. it's where the magic happens and that is to take those interests that the strike countries and turned them into a majoritarian compromise. when we get to the issue of taxes, that is one of the most divisive issues facing the country. so when someone comes before the congress and says i want my group to be excluded, it obviously produces a great deal of heat. some people say how about my group, how long should this apply? it is the most divisive issue raised in congress and that is why it was given to the congress so that type of issue would be subject to the transformative process of the legislation. >> so do you belief
it seems to me that he has the authority to amend the taxes which the affordable healthcare tax is according to the supreme court what is to prevent him from just amending the any tax to his liking. mr. turley weigh in on this if you would. >> i have to agree first of all oon the remark about article on, as i said before it is true that they are all equal branches, but the framers spent most of their time on congress because it is something harder than the madisonian system. it's where...